INTEREST RATES BACK DOWN TO LAST YEARS LEVELS

Many real estate analysts and economists predicted that interest rates were going to rise in 2019.  That is far from the case as we start out 2019.  Of course we can’t predict the future and the fact that these economists missed the mark on their interest rate outlook is evidence that even the smartest people on the planet don’t always have the right answers or know the direction of the market …   

Rates are at levels that we haven’t seen since this time last year.  Since April 2018, rates shot up, even going as high as 5% in some cases.  Everyone thought that the next stop was 5.25%, then 5.5% but the complete opposite took place.    We’re now hovering around 4.3%, 4.4% for a 30 year fixed loan.  This is great news.  It benefits both buyers and sellers and gives us all hope that the real estate market will continue to remain strong.